As a New Data-Lake-as-a-Service Add-on to Molecule’s Modern ETRM/CTRM Platform, Bigbang Ignites Deeper Data Insights for Energy and Commodity Traders.
Molecule Software, the leader in modern cloud-based trading and risk management software for energy and commodities, announced the launch of Bigbang. Bigbang is a new data-lake-as-a-service platform that allows ETRM/CTRM users to automatically import trade data from Molecule and merge it with a variety of sources to query, analyze, and extract meaningful insights quickly and easily.
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Energy and commodities markets have been undergoing a seismic shift, driven by two key factors: increasing price volatility across all commodities and a global energy transition stemming from the challenges of climate change. Given these market trends, near real-time data access and advanced trading analytics are essential for effective portfolio risk management.
As a value-add to Molecule, the Bigbang data lake platform empowers risk managers, quantitative analysts, and anyone who needs direct access to data in Molecule to perform complex queries on time-series data.
The market value of data lakes is growing, and its growth is outpacing that of data warehouses, which is the closest alternative product category. According to Commodities Peoples’ 2023 Commodity Trading Annual Industry Report, 56 percent of companies surveyed identify risk and valuations as a main area where they intend to adopt data science.
Data lakes allow companies to access and analyze data faster. The difference in technical architecture also results in lower costs to the data-consuming company.
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“We’re seeing a growing need in the energy and commodities trading space for a turnkey data lake, as indicated by our own customers. They need real-time and automated data streaming from key systems, the ability to query the data quickly and easily, and access to the data using the analytics tools they know well,” says Sameer Soleja, Founder and CEO of Molecule. “Bigbang provides this much-needed functionality to Molecule users, allowing them to run more complex analyses of their trade data in Molecule.
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